Voya Investment Management LLC trimmed its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 16.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,440 shares of the company’s stock after selling 44,898 shares during the quarter. Voya Investment Management LLC owned approximately 0.35% of Travel + Leisure worth $13,530,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of TNL. Norges Bank bought a new position in shares of Travel + Leisure in the 2nd quarter worth $50,934,000. AQR Capital Management LLC raised its holdings in Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after purchasing an additional 855,151 shares in the last quarter. LSV Asset Management lifted its position in shares of Travel + Leisure by 69.0% during the second quarter. LSV Asset Management now owns 1,615,402 shares of the company’s stock valued at $83,371,000 after buying an additional 659,293 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Travel + Leisure by 98.4% in the 2nd quarter. Quantinno Capital Management LP now owns 488,307 shares of the company’s stock valued at $25,202,000 after buying an additional 242,231 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Travel + Leisure by 129.5% in the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock worth $19,141,000 after buying an additional 233,345 shares during the last quarter. Institutional investors own 87.54% of the company’s stock.
Analyst Upgrades and Downgrades
TNL has been the subject of a number of analyst reports. Mizuho set a $86.00 target price on shares of Travel + Leisure in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a report on Wednesday, October 8th. Wall Street Zen downgraded Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. The Goldman Sachs Group upped their target price on Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, Truist Financial raised their price target on Travel + Leisure from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Travel + Leisure presently has an average rating of “Moderate Buy” and an average price target of $72.22.
Get Our Latest Stock Analysis on TNL
Insider Buying and Selling at Travel + Leisure
In related news, insider Jeffrey Myers sold 50,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $66.38, for a total transaction of $3,319,000.00. Following the completion of the transaction, the insider directly owned 63,789 shares in the company, valued at $4,234,313.82. The trade was a 43.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Amandine Robin-Caplan sold 1,538 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $65.08, for a total value of $100,093.04. Following the completion of the transaction, the insider directly owned 3,904 shares of the company’s stock, valued at approximately $254,072.32. This trade represents a 28.26% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 198,776 shares of company stock worth $13,080,628. 3.75% of the stock is currently owned by company insiders.
Travel + Leisure Stock Performance
Shares of TNL stock opened at $72.95 on Tuesday. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $73.43. The firm has a market capitalization of $4.69 billion, a PE ratio of 12.00, a P/E/G ratio of 0.63 and a beta of 1.39. The stock’s 50-day simple moving average is $65.75 and its 200-day simple moving average is $60.86.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.57 earnings per share. Travel + Leisure’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, December 12th. Travel + Leisure’s dividend payout ratio is 36.84%.
Travel + Leisure Profile
Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.
In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.
See Also
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